Dec 21 2006
Berjaya Corporation Berhad, formerly known as Berjaya Group Berhad (KLSE : BJCORP, stock-code 3395) together with its Irredeemable Convertible Loan Stocks, ICULS (2005/2015) BJCORP-LC (stock-code 3395LC) triggered FinanceTwitter and MACD “Buy” signal today.
Berjaya-Corp closing price is the highest since almost a year ago with very high-volume. Stochastic just crossed and RSI moved into the bullish level of 74.5 while the ratio of bullishness is 2,449 Bulls : zero Bears. The ICULS meanwhile breached the all-time high of RM 0.13 since the listing in 2005 (after a complex restructuring involving Berjaya Capital Bhd (KLSE : BJCAP, stock-code 4499) and Berjaya Land Bhd) was trading with equally high-volume, Stochastic cross-over, bullish RSI and a ratio of 809 Bulls : zero Bears.
During the fiscal year ended April 30, 2006, the principal activities of Berjaya-Corp include financial services; manufacturing; property investment and development; hotel, resort and recreation; restaurants and cafes; marketing of consumer products and services, and investment holding. It’s been a long time since Vincent Tan started to “move” his stocks which he normally did in the 1990s.Vincent Tan is known to be very close to former premier, Mahathir, and it was said that he built his empire during this period with all the “support” from Mahathir. However after Mahathir retire, Vincent rarely make any appearance in public nor announce any major new projects within his empire. It’s normal within Malaysia culture where business and politic are closely related.
# TIP: With expiry on 2015, Berjaya-ICULS has the attractiveness of time-value which will surely be preferred stocks to speculate.
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December 21st, 2006 by financetwitter
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